News
- 26 February 2026, 09:50
- The Prosecutor General's Office of the Russian Federation
At the request of the Prosecutor General's Office of the Russian Federation, the competent authorities of the United Arab Emirates are extraditing Sergey Sannikov for him to face criminal charges under Article 210, Part 3 (participation in a criminal organization), Article 159, Part 4 (fraud), and Article 172.2, Part 2 (organizing activities to attract funds and/or other property) of the Criminal Code of the Russian Federation.
According to the investigation, Sannikov was involved in a criminal organization that created a financial pyramid scheme to attract funds from citizens. From May 2014 to February 2022, the accomplices established a network of offices under the "Life is Good" brand, where they offered shareholders new housing or income of up to 30% from investing in the company's activities. Funds received from depositors were stolen; the damage exceeded 230 million rubles.
From March 2016 to February 2022, members of the organization involved in the financial pyramid scheme over 18,000 citizens, who invested more than 15 billion rubles in the housing cooperative, of which 2 billion were misappropriated by the organizers of the criminal scheme.
Given that Sannikov had fled from the investigation, a pre-trial restraint measure in the form of detention was imposed on him in absentia. On the instruction of the Prosecutor General's Office of Russia, he was placed on the international wanted list.
The extradition request was sent following his detention on the territory of the United Arab Emirates. The competent authorities granted the request of the prosecutorial authority.
Accompanied by officers of the Federal Penitentiary Service of Russia and the NCB Interpol of the Ministry of Internal Affairs of Russia, Sannikov will be taken to Moscow to face criminal prosecution.
The Prosecutor General's Office
of the Russian Federation
The Prosecutor General's Office of the Russian Federation
26 February 2026, 09:50
At the Request of the Russian Side, the United Arab Emirates Extradites One of the Participants in a Major Financial Pyramid
At the request of the Prosecutor General's Office of the Russian Federation, the competent authorities of the United Arab Emirates are extraditing Sergey Sannikov for him to face criminal charges under Article 210, Part 3 (participation in a criminal organization), Article 159, Part 4 (fraud), and Article 172.2, Part 2 (organizing activities to attract funds and/or other property) of the Criminal Code of the Russian Federation.
According to the investigation, Sannikov was involved in a criminal organization that created a financial pyramid scheme to attract funds from citizens. From May 2014 to February 2022, the accomplices established a network of offices under the "Life is Good" brand, where they offered shareholders new housing or income of up to 30% from investing in the company's activities. Funds received from depositors were stolen; the damage exceeded 230 million rubles.
From March 2016 to February 2022, members of the organization involved in the financial pyramid scheme over 18,000 citizens, who invested more than 15 billion rubles in the housing cooperative, of which 2 billion were misappropriated by the organizers of the criminal scheme.
Given that Sannikov had fled from the investigation, a pre-trial restraint measure in the form of detention was imposed on him in absentia. On the instruction of the Prosecutor General's Office of Russia, he was placed on the international wanted list.
The extradition request was sent following his detention on the territory of the United Arab Emirates. The competent authorities granted the request of the prosecutorial authority.
Accompanied by officers of the Federal Penitentiary Service of Russia and the NCB Interpol of the Ministry of Internal Affairs of Russia, Sannikov will be taken to Moscow to face criminal prosecution.
